Connect with us

Hi, what are you looking for?


Cybersecurity Funding

IoT Security Firm Ordr Increases Funding to $50 Million

Kaiser Permanente Ventures and Mayo Clinic Invest in Enterprise IoT Security Firm

Kaiser Permanente Ventures and Mayo Clinic Invest in Enterprise IoT Security Firm

Santa Clara, Calif-based Ordr has announced additional funding to the Series B funding round announced in December 2019. The amount of the latest funding is not disclosed, but the company confirms that the total raised is now $50 million.

With a Series A round of $16.5 million in March 2019, and a Series B round of $27.5 million in December 2019, the implication is that this Series B top-up is for a further $6 million, raised from Mayo Clinic and Kaiser Permanente Ventures.

Ordr was founded in 2015 by Pandian Gnanaprakasam (CPO) and Sheausong Yang (chief scientist) to provide security for the rapidly expanding IoT ecosphere. Its System Control Software Engine uses machine learning to find and classify every IoT and unmanaged device in the environment, to map all communications, to detect and prioritize vulnerabilities, and then to secure each device through policy generation and segmentation. Organizations use Ordr to find their devices, track their usage, and achieve proactive protection and compliance.

Propelled by the rapid adoption of business transformation (the fourth industrial revolution) the size of the IoT market is growing fast. According to the IoT Security Market report from Markets and Markets, IoT security will be worth $35.2 billion by 2023 — up from $8.2 billion in 2018 (a compound annual growth rate of 33.7%).

Gartner suggests that the number of IoT devices used by enterprises and the automotive industry is increasing by just more than 20% per year. It was expected to reach 4.8 billion endpoints in use by the end of 2019, and to grow to 5.8 billion by the end of 2020.

But IoT security is generally lagging behind IoT adoption. “It’s becoming increasingly critical that enterprises properly protect network-connected devices, and the network itself, from potentially nefarious activity,” says Greg Murphy, CEO of Ordr. “For far too long, organizations have been in a reactive mode, using tools that provide only basic visibility, responding to device vulnerabilities as they are discovered. In our view, enterprises must be proactive, ensuring that their most mission-critical assets and business functions are always protected.”    

Advertisement. Scroll to continue reading.

Related: ExtraHop Expands Enterprise IoT Security Features 

Related: IoT Devices at Major Manufacturers Infected via Supply Chain Attack 

Related: Microsoft Launches Azure Security Center for IoT 

Related: Cisco Launches Industrial IoT Security Solution 

Written By

Kevin Townsend is a Senior Contributor at SecurityWeek. He has been writing about high tech issues since before the birth of Microsoft. For the last 15 years he has specialized in information security; and has had many thousands of articles published in dozens of different magazines – from The Times and the Financial Times to current and long-gone computer magazines.

Click to comment

Daily Briefing Newsletter

Subscribe to the SecurityWeek Email Briefing to stay informed on the latest threats, trends, and technology, along with insightful columns from industry experts.

SecurityWeek’s Threat Detection and Incident Response Summit brings together security practitioners from around the world to share war stories on breaches, APT attacks and threat intelligence.


Securityweek’s CISO Forum will address issues and challenges that are top of mind for today’s security leaders and what the future looks like as chief defenders of the enterprise.


Expert Insights

Related Content

Application Security

Cycode, a startup that provides solutions for protecting software source code, emerged from stealth mode on Tuesday with $4.6 million in seed funding.

Cybersecurity Funding

SecurityWeek investigates how political/economic conditions will affect venture capital funding for cybersecurity firms during 2023.


Thirty-five cybersecurity-related M&A deals were announced in February 2023


Forty cybersecurity-related M&A deals were announced in January 2023.


Seventeen cybersecurity-related M&A deals were announced in the first half of February 2023.


More than 450 cybersecurity-related mergers and acquisitions were announced in 2022, according to an analysis conducted by SecurityWeek

IoT Security

A group of seven security researchers have discovered numerous vulnerabilities in vehicles from 16 car makers, including bugs that allowed them to control car...

Cybersecurity Funding

Network security provider Corsa Security last week announced that it has raised $10 million from Roadmap Capital. To date, the company has raised $50...